Unaudited net asset value per share at 29 February 2024
Caledonia Investments plc ("Caledonia") announces that its unaudited diluted net asset value per share ("NAV") as at 29 February 2024, calculated on a cum-income basis, was 5201p.
The Company announces that, as at the close of business on 05 March 2024, the unaudited net asset values per ordinary share, valued on a 'bid price' basis, were:
Agreed and London Metric Property just spent £13M acquiring a logistics business
"As evidenced by today's update, we will continue to reposition parts of the portfolio with an emphasis on growing our exposure to logistics which remains our strongest conviction call and is delivering high organic rental growth. We are also seeing interesting investment opportunities arising from debt refinancings and fund redemptions and the acquisition announced today is an excellent example of an innovative transaction that leverages our strong relationship with the developer and offers an attractive return profile."
A lot of REITs are struggling due the accelerated adoption of WFH since the pandemic lockdowns.
Offices just don't need to be as big now as hot desking can be implemented to save companies rent, rates and all the services charges, thats a problem for landlords and the income seekers that invest in office commercial property.
None of that applies to Assura who i am convinced will pick up when interest rates get cut hopefully back to ~3% in 2025
Thats what has always worried me with BLU in that Mark was never going to mount a takeover so his or the other large holder who's name escapes me selling would push the price down